By Bill Cresenzo
The transformation of the historic Wainwright Building into a modern, downtown-style apartment building is almost complete.
The building on Bute Street, in the Freemason District, has undergone a top-to-bottom, $25 million renovation.
It's now called The Wainwright Downtown.
Builders who have spent the past year renovating the structure into a 126-unit, high-end rental apartment building are putting the finishing touches on the nine-story building.
Norfolk developer Buddy Gadams is part of the development group that took over the ownership of the building after paying $3 million for a $6.8 million bank note owned by JP Morgan.
The building was owned by George Hranowskyj and Eric Menden, the Norfolk developers who are now serving prison terms for their roles in the failure of the Bank of the Commonwealth.
Of the 126 units, 70 percent are one bedroom, 10 percent are two bedrooms and 20 percent are studios. Eleven of the units are lofts. Sizes range from 346- to 696-square-foot studios, 510 to 736 square feet for the one-bedroom units, 884 to 928 square feet for the two-bedroom units and around 688 to 1,144 square feet for the lofts.
Rents range from $825 to $1,150 for the studios, $950 to $1,550 for the one-bedroom,s $1,525 to $1,950 for the two-bedrooms and $1,225 to $1,750 for the lofts.
The entire project should be finished by the end of September.
Bill Cresenzo photos